Grexit could cost Finland €5.4bn

By: Jonathan Boyd | 30 Jul 2012

Calculations on the costs associated with a Greek exit from the eurozone suggest that the sole Nordic member of the single currency union would stand to lose €5.4bn.

Daily Helsingin Sanomat used research by the German Ifo organisation, which bases its conclusion on the assumption that any Greek exit would automatically delete any value associated with the debts owed the other eurozone members and the European Central Bank.

The Ifo’s calculations suggest that Germany’s equivalent losses would be €82bn, while France’s would be €62bn.

Meanwhile, Finnish newspaper Kaleva writes that two-thirds of Finns want to retain the euro, according to a poll it has published.

Just a quarter of the country’s population want a return of the Finnish Mark. The poll, carried out by Talousutkimus, suggests that supporters of the country’s Centre Party have become more critical of the euro over the past year.

Almost half, 48%, of the Finns Party members want a return of the Mark, against 41% who wish to retain the euro.

Some 95% of supporters of the Swedish Peoples’ Party want to stay in the currency union. The results were based on questioning a sample of about 1,000 Finns aged over 15 at the end of July, with a margin of error of 3%.